Maruti Suzuki India Ltd's shares rose nearly 1% on June 4 after the auto major said it has expanded solar power capacity at its Kharkhoda and Manesar units by 20 megawatt peak and 10 megawatt peak, respectively. With this, the total solar capacity of the Gurugram-based automotive giant's production facilities has increased to 79 megawatt peak from 49 megawatt peak in the last one year, the company said in an exchange filing.

By 2030-31, Maruti Suzuki targets to increase overall solar capacity to 319 megawatt peak at an investment of Rs 925 crore, said Hisashi Takeuchi, Managing Director & CEO, Maruti Suzuki India Ltd.

At 10:45 am on June 4, Maruti Suzuki shares on NSE were trading 0.95% higher at Rs 12,241 apiece. The 52-week high of the stock is Rs 13,680 and 52-week low is Rs 10,725. The market capitalisation of the stock is Rs 3.84 lakh crore.

For the quarter ended March, Maruti Suzuki had posted a net profit of Rs 3,711 crore on revenue of Rs 40,674 crore.

Takeuchi said, “Aligned with our parent company, Suzuki Motor Corporation's Environment Vision 2050i and the Government of India's focus on renewable energy, we are systematically enhancing the use of renewable energy in our operations. By FY2030-31, Maruti Suzuki plans to reach 319 MWp of solar capacity, backed by an investment of over Rs 925 crore. As we scale up production to four million units, we are committed to
matching that growth with equally ambitious sustainable energy practices. This solar power expansion is a crucial step towards creating a cleaner, more sustainable energy ecosystem and contributes positively to the environment.”

He added, “Through sustained efforts, the share of renewable source of energy in total electricity consumption is expected to reach nearly 85% by FY2030-31.”